- SEI approaches critical resistance after reclaiming the support of its long downtrend.
- RSI remains weak and volume remains muted, suggesting low momentum near key resistance.
- A break above $0.22 can trigger bullish continuation to the $0.30–$0.35 area.
SEI shows early signs of strength after breaking from a long-term downtrend on the daily timeframe. The current structure positions price just below a critical resistance zone that could define the next directional move.
Price Approaches Structural Resistance After Rebound
Price action from early 2024 followed a steady decline, producing lower highs and lower lows across several months. SEI’s last major peak formed near $0.55 before sustained bearish pressure pushed it toward the $0.12 low.
Michael Van de Poppe began his analysis by identifying a crucial resistance zone between $0.20 and $0.22. This level reflects a prior support floor now acting as resistance after several failed recoveries.
Source: Michael Van de Poppe
As the asset approaches this zone, Van de Poppe tracks a minor recovery that remains structurally unconfirmed without a breakout. Based on earlier price reactions, he views the zone as a historical pivot with multiple failed rallies.
He continues by evaluating RSI levels, which remain beneath neutral midpoints on higher timeframes. This RSI reading reflects limited momentum, showing that bulls still lack strong control.
In reviewing volume activity, he notes no significant spike during the latest bounce toward resistance. The subdued volume signals cautious buying interest, which tempers short-term expectations.
Looking at recent candle structure, Van de Poppe highlights small-bodied sessions, signaling indecision while price tests overhead resistance. He adds that past failures at this level triggered renewed selling pressure and trend continuation lower.
He concludes that a clean breakout and consolidation above $0.22 could unlock a move toward $0.30–$0.35. Until that occurs, the recovery appears corrective within a broader bearish channel.
Retest Setup Signals Shift in Market Direction
Pablo Escobar approaches the chart with a market structure lens, identifying BOS and CHOCH patterns between February and April. These events defined both breakdowns and the first sign of reversal.
Source: pablo.escober
Following the descending trendline break, he observes a successful retest near $0.17 that confirms a shift in behavior. Sei price then cleared a prior swing high at $0.19, forming the first higher high in months.
Escobar sees continuation likely if price holds support above the $0.17 breakout zone. He identifies $0.30 as the next target based on recent structure and clean breakout behavior. Price must stay above the retest level to maintain short-term bullish momentum.
